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NDIC To Pay First Tranche Of Liquidation Dividend To Heritage Bank Depositors

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The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will pay the first tranche of liquidation dividend to uninsured depositors of the defunct Heritage Bank before the end of April 2025.

 

Speaking during a retreat with the House Committee on Insurance and Actuarial Matters, with the theme

 

“Navigating Financial Disruptions: Strengthening the NDIC’s Mandate for Economic Stability”, Managing Director and Chief Executive of the NDIC, Bello Hassan, said the payment, amounting to 9.2 kobo per naira, is part of the Corporation’s efforts to settle the bank’s liabilities following the revocation of its banking license by the Central Bank of Nigeria.

 

According to him, the NDIC the Corporation has made significant progress in the disposal of the defunct bank’s physical assets and has re-strategise on aggressive debt recovery to ensure that outstanding debts owed to the bank are recovered and used to pay the balance of uninsured depositors and other claimants.

 

Bello also highlighted how NDIC has strengthened its mandate. “The NDIC has been working to strengthen its mandate and ensure the stability of the financial system, amidst emerging disruptions and challenges.

 

“The Corporation’s efforts include implementing public awareness campaigns, publishing lists of licensed deposit-taking institutions, and leveraging social media to disseminate timely information” Hassan said.

 

The NDIC boss however lamented that the growing incidence of Ponzi schemes and so-called “wonder banks” as witnessed by the recent crash of the CBEX pyramid scheme, which resulted in an estimated loss of N1.3 trillion have implications for public confidence in the financial system.

 

He stated that the Corporation remained committed to protecting the public from such fraudulent schemes by implementing comprehensive public awareness campaigns that educate people about the risk of engaging with unlicensed financial institutions.

 

In his address, the Chairman of the Committee, Ahmadu Usman Jaha, commended the NDIC for its commitment to fostering financial system stability and transparency in its operations.

Jaha praised the NDIC’s swift payment of insured sums to depositors of the defunct Heritage Bank, noting that almost 99 per cent of the short-term amount had been cleared.

 

He also commended the Corporation’s transparency in announcing the payment of 9.2 kobo per naira to uninsured depositors. “Our financial system has faced mounting pressure from inflammatory threats, currency water currency mortality, cyber threats, and the global re-calibration of banking and investment models.

 

“Amid these challenges, the NDIC remains a vital pillar in maintaining public confidence in the Nigerian banking sector through deposit protection, balance of provision, federal reservation and financial interests”, he said.

 

The Committee Chairman assured that the House of Representatives would continue to work closely with the NDIC and other stakeholders to craft sound policies and strengthen institutional frameworks.

 

 

 

-Leadership

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Business

Polaris Bank Marks World Cancer Day with Free Breast Cancer Screening for 100 Women Nationwide, Nigeria

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In commemoration of World Cancer Day, slated for February 4, 2026, Polaris Bank has reaffirmed its commitment to community health and social impact with the launch of a nationwide free breast cancer screening initiative in partnership with its NGO partner, Care Organization and Public Enlightenment (C.O.P.E). 

 

The initiative is designed to promote awareness, screening, early detection, and preventive care, reinforcing the Bank’s belief that access to health services is a critical foundation for individual and economic wellbeing.

 

As part of this year’s World Cancer Day activities, Polaris Bank will provide free and comprehensive breast cancer screening for 100 women across Nigeria, while also supporting an on-going free prostate cancer screening programme for 250 persons across Nigeria it earlier sponsored for men aged 40 years and above.

 

The prostate cancer screening is being conducted at the Men’s Clinic, situated at 18, Commercial Avenue, Sabo, Yaba, Lagos, providing accessible, professional medical support for male participants seeking early detection and preventive care for prostrate.

 

Both initiatives (free breast and prostate cancer screenings) directly aligns with the United Nations Sustainable Development Goals, particularly SDG 3 (Good Health and Well-being) through improved access to preventive healthcare and early detection services, SDG 5 (Gender Equality) by prioritizing women’s health and empowerment, and SDG 17 (Partnerships for the Goals) through strategic collaboration with civil society organizations such as C.O.P.E to deliver community-centered impact.

 

Educational materials, community engagement sessions, and digital awareness campaigns will be deployed to reinforce key messages around early detection, lifestyle choices, and the importance of regular medical check-ups.

 

Speaking on the initiative, Rasheed Bolarinwa, Group Head, Brand Management & Corporate Communications, Polaris Bank, emphasized that early detection remains one of the most effective tools in the fight against cancer.

 

By removing financial barriers and bringing screening services closer to communities, the Bank aims to empower individuals with the knowledge and resources they need to seek timely medical intervention.

 

The flagship breast cancer screening event will take place on Saturday, February 21, 2026, at the C.O.P.E Centre, 39B Adeniyi Jones Avenue, Ikeja, Lagos, from 10:00am to 2:00pm.

 

The exercise will be conducted by trained health professionals and volunteers, ensuring participants receive both screening services and educational guidance on cancer prevention, self-examination, and follow-up care.

 

Participation in the free breast cancer screening programme is subject to the following requirements: applicants must be women, applicants must be Polaris Bank account holders, and pre-registration is required, with selection based on early and confirmed submissions.

 

Eligible participants are encouraged to register via the official link: bit.ly/BCS2026.

 

While the breast cancer screening is targeted at women, Polaris Bank encourages men to actively support the health of their families by urging their wives, daughters, and female relatives to register and participate.

 

In parallel, men are also invited to take advantage of the on-going free prostate cancer screening programme for men aged 40 years and above at the Men’s Clinic, Sabo, Yaba.

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Entertainment

Davido breaks silence after Grammy Award loss

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Five-time Grammy nominee, David Adeleke, popularly known as Davido, has reacted after losing the Best African Music Performance category at the 68th Grammy Awards held in Los Angeles, United States.

 

The Afrobeats star shared a message of faith and resilience following the outcome of the ceremony, which took place on Sunday night at the Crypto.com Arena in California.

In a post on his Instagram page, Davido shared photos with his wife, Chioma, from the event and wrote, “Oluwa Dey my side,” alongside prayer and music emojis.
Hours later, he posted another set of pictures of himself and Chioma at the Grammys, reflecting on the loss in a longer caption.

“I said baby listen we lost again let’s not go ! she said ‘Be humble in victory and gracious in defeat’ we outside,” he wrote.
Chioma also reacted via her Instagram page, praising the singer, “You already know that you’re the perfect one, @davido,” she wrote, while sharing photos from the awards night.
Davido was nominated in the Best African Music Performance category at the 2026 Grammy Awards but lost to South African singer Tyla, who won with her song Push 2 Start.

Other nominees in the category included Burna Boy (Love), Ayra Starr and Wizkid (Gimme Dat), Davido (With You featuring Omah Lay), and Eddy Kenzo and Mehran Matin (Hope & Love).

The win marked Tyla’s second Grammy Award, following her first victory in 2024 for her hit single Water.

Speaking during the awards ceremony, the singer revealed that With You, featuring Omah Lay, almost did not make the final tracklist of his album 5IVE.
“Man, it’s so crazy because that song almost didn’t make the album. With You was not in anybody’s top five.
“And now look at it go. Every time I was performing it, my heart would just start beating like, what if I didn’t put this song?” he told OkayAfrica.

Davido also recounted how he learned about the Grammy nomination, saying the news came unexpectedly while he was in Dubai, days before his birthday.

“I was in the car, actually, checking a car, and then my phone rang. They were like, ‘Oh yeah, another nomination.’ I was like, wow. Thank God,” he said.

“With You” was released in April 2025 as the 17th track on Davido’s fifth studio album, 5IVE, and has since become one of his most successful recent records, surpassing 100 million streams on Spotify.

Despite the song’s success, Nigeria did not record a win at the 2026 Grammy Awards.
Davido said he is now focused on touring and releasing new music.

He is also billed to perform at Coachella 2026, where he will be the only Nigerian artiste on the festival lineup, performing on April 11 and April 18, 2026, in Indio, California.

-Guardian

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Entertainment

Kunle Afolayan gives reasons to marry many women

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Nollywood filmmaker, Kunle Afolayan, has stirred reactions after advising men to “marry many women” while reflecting on his upbringing in a polygamous home.

 

The actor and producer made the remarks at the watch party of Aníkúlápó: The Ghoul Awakens, with a clip from the event going viral on Tuesday.

Speaking at the event, Afolayan linked his existence and achievements to his late father’s decision to marry several wives.

“Without my father, there wouldn’t have been a KAP Village or even Kunle Afolayan. I am the seventh born of my father because my father had ten wives. For the men, marry many women, or rather be involved with many women. You know why? If my father didn’t, he would not have born me, and that is the honest truth. But today, a few of us are lifting his legacy. Life is short, death is constant. Nobody has life forever. Everybody has a period. Use your period,” he said.

While his daughter, Eyiyemi Afolayan, joined him on stage, the filmmaker compared his childhood experience with his relationship with his children.

“They are lucky. For her, staying by my side is luck. Do you know why? I couldn’t stand it with my father. My father didn’t know my school. My father didn’t know my date of birth. He did not know anything about me other than, ‘He is the son of that person.’ But today, I’m so proud of my father,” he added.

Afolayan also spoke about fatherhood.

“Sometimes when people say ‘Happy Father’s Day,’ I’m always saying whether he pays child support or not, he’s still a father. I have been going to court because I want to get a divorce. I don’t mind being in the witness box, and I experienced the shit, so that I can marry many wives,” he said.

He thereafter prayed for his daughter, praising her role in the series.

“Hephzibah, her mother is the one who gave her the name. I don’t care, but I am proud of you. You started with the film, you did the first season, and now with the second season, you did amazingly well. My good Lord will continue to increase you in wisdom, in knowledge, and in understanding. If this is your path, the good Lord will see you through.”
However, this is not the first time the filmmaker has spoken about his late father’s polygamous lifestyle.

In March 2021, Afolayan told BBC Pidgin that his father, Adeyemi Afolayan, who died in 1996, married 10 wives and had 25 children, a decision he said took a toll on the family.

“I would not want to marry many wives because my father had 10 wives and I knew what happened throughout that period. I knew that really distracted my father. In this age, nobody needs to tell you before you know what’s right,” he said at the time.

He also disclosed that growing up in a polygamous home affected bonding among the children due to language and other barriers.

Afolayan further narrated how he battled poverty in his early years, revealing that he once lived in a one-room apartment in Ebute-Metta and sometimes had to deal with flooding.

“I was born in Ebute-Metta and have lived in one-room apartment before that we even have to grapple with flood sometimes. It’s not shame to say have been poor before. But if you see how l made it, it’s a matter of consistency. My father was a very popular filmmaker and ordinarily, people would expect me to life the kind of live akin to Hollywood stars,” he said.

“But that wasn’t the case. How would one live such life when you’re living in a room with ten women. That doesn’t mean there was no love among us.”

He had advised young filmmakers to start with the little resources available to them while working towards their dreams.

 

-Guardian

 

 

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